Metal recycling and recovery

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News

Liepos 22, 2020

Precious metal prices have risen this week as well. It can be seen that prices increase rapidly. This tendency is likely to continue as the pandemic-induced economic crisis is felt around the world (source: Metalsdaily.com).
The price of gold rose to $ 1818.16 an ounce. According to Uk.reuters.com, the rise in the price of yellow metal is mainly due to the already mentioned economic crisis caused by the pandemic. The world's central banks increased their reserves of the metal - 40 tons of gold were bought in May alone (source: Zerohedge.com). Fxstreet.com says that in the next 6-9 months, the yellow metal will reach its record price position - it may exceed $ 2,000 an ounce.
 
White metal has reached perhaps its highest position in the last four years - it currently costs $ 19.91 an ounce. Marketoracle.co.uk says that the demand for this metal has grown exponentially. The value of silver may increase even more by the end of this year (source: Lombardiletter.com). Investingcube.com thinks that it should come as no surprise that silver will cost as much as $ 25 an ounce in December this year.
 
The price of palladium shone this week - the value of the metal rose to $ 2,058 an ounce. Recently, forecasts for changes in the price of this metal have been vague, but it seems that a bright future is promised for palladium as well - the prices of many metals should continue to rise during the crisis (source: Metalsdaily.com).
The value of platinum also rose to $ 852 an ounce. The price of the metal is affected by falling car sales, but it can be seen that even in this period it manages to grow slightly. Heraeus.com says that the price of platinum should not fall this year.
Comparing last year’s global car sales, it fell by 30% worldwide and by 43% in Europe (source: Miningweekly.com). Car manufacturers are being rescued by sales of hybrid cars - for example, sales of this type of car have risen by as much as 211% in the United Kingdom, 44% in Spain and 55% in Germany. Hybrid cars seem to be gaining popularity around the world.
 


 
The price of copper continues to rise - it currently costs $ 6466.82 a tonne. The reason for the increase in the value of the metal does not change - its shortage is felt, and its mining has been significantly slowed down due to the COVID-19 virus (source: Mining.com). It should come as no surprise that the price of copper will continue to rise.